Navient (NASDAQ:NAVI) Releases FY 2024 Earnings Guidance

Navient (NASDAQ:NAVI) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 1.350-1.550 for the period, compared to the consensus estimate of 1.490. The company issued revenue guidance of -.

Analysts Set New Price Targets

A number of brokerages have weighed in on NAVI. TD Cowen lowered their price target on Navient from $14.00 to $13.00 and set a sell rating on the stock in a research report on Friday, April 26th. Keefe, Bruyette & Woods upped their price target on Navient from $15.00 to $16.00 and gave the company a market perform rating in a research report on Thursday. Barclays lowered their price target on Navient from $11.00 to $10.00 and set an underweight rating on the stock in a research report on Tuesday, July 9th. Finally, JPMorgan Chase & Co. decreased their target price on Navient from $16.00 to $15.00 and set a neutral rating on the stock in a report on Monday, July 8th. Three investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $15.80.

Navient Trading Up 2.2 %

Navient stock traded up $0.35 during mid-day trading on Friday, hitting $15.95. The stock had a trading volume of 1,079,895 shares, compared to its average volume of 735,957. The stock has a 50-day simple moving average of $14.77 and a two-hundred day simple moving average of $15.91. The stock has a market capitalization of $1.75 billion, a PE ratio of 10.22 and a beta of 1.40. Navient has a 12 month low of $13.95 and a 12 month high of $19.68. The company has a current ratio of 9.99, a quick ratio of 12.52 and a debt-to-equity ratio of 17.30.

Navient (NASDAQ:NAVI) last posted its quarterly earnings results on Wednesday, July 24th. The credit services provider reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.14). The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $157.27 million. Navient had a net margin of 3.41% and a return on equity of 11.06%. During the same quarter in the prior year, the business earned $0.70 EPS. As a group, sell-side analysts forecast that Navient will post 1.59 EPS for the current year.

Navient Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 4.01%. The ex-dividend date of this dividend was Friday, June 7th. Navient’s dividend payout ratio is 41.03%.

Insider Activity at Navient

In other Navient news, EVP Mark L. Heleen sold 10,000 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $16.00, for a total value of $160,000.00. Following the transaction, the executive vice president now owns 393,611 shares of the company’s stock, valued at $6,297,776. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 27.99% of the stock is owned by company insiders.

Navient Company Profile

Navient Corporation provides technology-enabled education finance and business processing solutions for education, health care, and government clients in the United States. It operates through three segments: Federal Education Loans, Consumer Lending, and Business Processing. The company owns Federal Family Education Loan Program (FFELP) loans that are insured or guaranteed by state or not-for-profit agencies; and performs servicing on its portfolios, as well as federal education loans held by other institutions.